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Chapter 18 RMI3011 FSU RMI 3011 Florida State University - Question and answers already passed $12.99   Add to cart
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Chapter 18 RMI3011 FSU RMI 3011 Florida State University - Question and answers already passed
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Chapter 18 RMI3011 FSU RMI 3011 Florida State University - Question and answers already passed Reasons for Social Insurance - correct answer Help solve social problems (Historically NOT the role of government) Provide coverage for perils that are difficult to insure privately (Does not compe...

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  • November 30, 2024
  • 4
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • chapter 18 rmi3011 fsu
  • chapter 18 rmi3011 fsu question and answers alread
  • chapter 18 rmi3011 fsu rmi 3011 florida state univ

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Chapter 18 RMI3011 FSU Question and
answers already passed
Reasons for Social Insurance - correct answer ✔Help solve social problems
(Historically NOT the role of government)
Provide coverage for perils that are difficult to insure privately (Does not
compete with the private market)
Provide a base of economic security


Social insurance has an emphasis on social adequacy which means - correct
answer ✔the benefits paid should provide a certain standard of living to all
contributors. This means that the benefits paid are heavily weighted in favor of
certain groups, such as low-income persons, large families, and the presently
retired aged.


Individual equity - correct answer ✔contributors receive benefits directly
related to their contributions; the actuarial value of the benefits is closely
related to the actuarial value of the contributions.


Benefits are __________________ to earnings - correct answer ✔loosely
related


A means test - correct answer ✔is when welfare applicants must show that
their income and financial assets are below certain levels as a condition of
benefit eligibility.


Does social insurance use means testing? - correct answer ✔no

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